Japan’s JFE Steel expects to invest $265 million in a Mexican facility to produce steel sheet for the automotive industry, according to several media reports.
JFE Steel is said to be in talks with Nucor to build a JV project, which could start up in 2019, and should have a 400,000 mt/year capacity.
A media report noted Japanese rivals Nippon Steel & Sumitomo Metal and Kobe Steel produce automotive steel sheets in the US through partnerships with Europe's ArcelorMittal and US Steel, respectively.